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Lightning owner Vinik sells stake in $2B Water Street development

The billionaire and NHL owner sold out to his partner in the $2 billion development as he looks to slow down.

By Louis Llovio
| 3:45 p.m. June 29, 2023
| 0 Free Articles Remaining!

Jeff Vinik and Cathie Wood of ARK Investment Management spoke at an Urban Land Institute event in Tampa March 2022.

Tampa Bay-Lakeland

Jeff Vinik, the owner of the Tampa Bay Lightning and the mastermind behind the Water Street Tampa development, has sold his share of Strategic Property Partners, the real estate company behind the $2 billion project.

Vinik’s share of the company was sold to the Bill Gates-run fund Cascade Investment, which has been his partner on Water Street. Financial terms of the deal were not disclosed and Vinik will remain an adviser. The sale was announced Thursday in a press release.

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Louis Llovio

Louis Llovio is the deputy managing editor at the Business Observer. Before going to work at the Observer, the longtime business writer worked at the Richmond Times-Dispatch, Maryland Daily Record and for the Baltimore Sun Media Group. He lives in Tampa.